Ester Industries Ltd. to Invest in Setting Up R&D and Innovation Center in India

India: Ester Industries, a leading manufacturer of polyester films, specialty polymers and engineering plastic compounds based in Gurgaon, has plans to setup a new R&D center in Gurgaon with an investment of around USD7.4 million. The company has its manufacturing facility located in Uttarakhand, with manufacturing capacity of 57 thousand metric tonnes of polyester films per year, 13.2 thousand metric tonnes of metalized polyester films per annum, 70 thousand metric tonnes per annum of polyethylene terephthalate and 16.5 thousand metric tonnes of engineering plastics per annum. Under the Patent Cooperation Treaty (PTC), the company filed another patent in order to produce polyester yarn for masterbatch. Under the speciality polymer business, the company has filed patents for 9 products. The company aims to continue developing innovative products through the setup of this new facility.

Techsci Research depicts that the setup of a new R&D and innovation center will aid the company to enhance its product offering as well as customer base in the country, thereby enhancing its market position. Additionally, growing production of polyester films in India is projected to aid the demand for masterbatch in the country.

the recently published report by TechSci Research, “India Masterbatch Market By Type, By Polymer Type, By Application, By End Use, Competition Forecast and Opportunities, 2011 - 2025’’, masterbatch market in India is forecast to grow at a CAGR of over 11% during 2016-2025, on account of strong growth in packaging and automotive sectors, favorable government regulations, and rapid industrialization and commercialization. Further, growing demand for masterbatch in the country can also be attributed to strong emphasis on development of eco-friendly cars by the government. Government of India implemented strict regulations regarding greenhouse gases emissions by vehicles, to control pollution in the country. Government of India announced plans to invest US$ 14.7 billion for development of 100 smart cities and 500 cities under Atal Mission for Rejuvenation and Urban Transformation (AMRUT) mission. Indian government has also been making provisions under ‘Make in India’ initiative to strengthen manufacturing capacities of the country. These schemes are expected to drive masterbatch consumption in India through 2025.